Montchanin Asset Management LLC Sells 242 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Montchanin Asset Management LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,737 shares of the pharmaceutical company’s stock after selling 242 shares during the quarter. Vertex Pharmaceuticals makes up about 4.7% of Montchanin Asset Management LLC’s portfolio, making the stock its 6th biggest holding. Montchanin Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $5,033,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of VRTX. Capital World Investors boosted its position in shares of Vertex Pharmaceuticals by 21.3% during the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after acquiring an additional 3,824,103 shares during the last quarter. Norges Bank acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $1,237,877,000. Capital Research Global Investors boosted its position in shares of Vertex Pharmaceuticals by 61.0% during the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after acquiring an additional 2,176,218 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Vertex Pharmaceuticals by 21.2% during the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after acquiring an additional 837,461 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at about $277,317,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.1 %

NASDAQ:VRTX traded up $5.37 during mid-day trading on Friday, hitting $477.37. The stock had a trading volume of 1,181,337 shares, compared to its average volume of 1,219,119. The stock has a 50-day simple moving average of $480.54 and a two-hundred day simple moving average of $442.24. The company has a market capitalization of $123.19 billion, a PE ratio of 30.98 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a twelve month low of $340.83 and a twelve month high of $510.64. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $3.53 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

Analyst Ratings Changes

VRTX has been the topic of several recent research reports. Canaccord Genuity Group boosted their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. TD Cowen boosted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company boosted their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $472.00 to $509.00 in a report on Monday, August 5th. Finally, Redburn Atlantic initiated coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 price objective on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Hold” and a consensus target price of $485.91.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the transaction, the chief executive officer now directly owns 121,374 shares in the company, valued at $55,467,918. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $17,920,000. The disclosure for this sale can be found here. Insiders have sold a total of 55,703 shares of company stock valued at $26,615,855 over the last 90 days. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.